The Nepal Stock Exchange (NEPSE) experienced a notable downturn on Sunday, as market turbulence gripped the trading floor. The daily turnover plummeted to just over Rs 3 billion, reflecting a 0.25% decline in the index, which settled at 2,061.70 points by the close of the week’s inaugural trading day.
Throughout the day, market conditions remained volatile, with the index fluctuating from a low of 2,054.15 at 11:23 am to a peak of 2,072.9 points at 12:12 pm. This volatility translated into a sharp dive in daily turnover to Rs 3.216 billion, involving 9,272,782 units of shares from 307 companies exchanged in 70,790 transactions. This represented a further drop from Thursday’s intraday turnover, which stood at a mere Rs 4.180 billion.
In sync with the broader index, the sensitive index, tracking class ‘A’ stocks, slipped by 0.16%, while the float index, indicating actively traded shares, saw a 0.25% dip.
Among the sub-indices, only four made gains, led by the development Bank index with a 0.66% increase, followed by Non-Life Insurance at 0.51%, Finance at 0.40%, and Investment at 0.09%. Of the listed companies, 104 saw gains in their share values, while 132 experienced declines, and 11 remained unchanged. Notably, Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) registered a sole 10% increase in its share values.
Despite the overall market turbulence, Himalayan Reinsurance Limited (HRL) emerged as the top performer in terms of turnover (Rs 335,832,809.20) and transactions (8,702). However, it was dethroned as the top company in terms of volume, as the Nepal Infrastructure Bank Limited (NIFRA) claimed the top position in volume, with 525,058 shares traded compared to HRL’s 486,325 units.
The total market capitalization stood at Rs 3.240 trillion, indicating the resilience of the market despite the day’s challenges. Investors are closely monitoring the evolving market dynamics as they navigate through the uncertainties.
04th Feb 2024
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